The Cryptocurrency Investing Discussion

[amp0193]

I just bought my first "real" amount of Ethereum this morning. I'll get a bit more next week (my max on coinbase is quite low still) and "as able" going forward.

I'll be doing the same soon!

Just set up my Coinbase and GDAX accounts last night, and will buy some ETH as soon as I can verify bank account with them.


I've been thinking about it for 3-4 months, and I just learned that I have a windfall coming, that I didn't know about. Perfect time to jump in.


Just going to be doing some long-term buy/hold. None of the exciting day trading stuff some of ya'll are doing. And I'm not planning on touching any alts.

 

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[MarekvBeek]

The goal at this point is to seek out a good reentry point on BTC. Watching closely, but aiming for a $6000-$6200 entry.

Did you bought?

 

[Tom.V]

Did you bought?

No, still biding my time. Still looks like it has a way to go, but as I'm sure you all know it just takes a little media frenzy to throw ALL TA predictions completely out of the window. Be balanced and attentive is all I can say.



Still watching BCH currently for short-term trades today. Long-term viability of it is still, ehhh. But the short term superspikes are definitely interesting. It hit $1600 just an hour ago.

Edit: As an update here, upped my limits on Polo which should help with liquidity. Coinbase too, which currently is super restrictive with weekly limits. Very prohibitive to active trading in volume.

 

[JAJT]

Just going to be doing some long-term buy/hold. None of the exciting day trading stuff some of ya'll are doing. And I'm not planning on touching any alts.

Yup, exactly what I'm doing.

I don't have the $$ to sink into it like a lot of other folks but I'm happy getting into it however I'm able right now and seeing what happens in the medium-long term.

 

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[steelandchrome]

Holding is both easy and hard. I haven't really traded too much other than a few swaps but that has probably cost me at lest $10k in gains I could have made from trading. I've had multiple days in the last week alone with $2k swings in my account from day to day. I have done so much better with LTC, ETH, and BTC than any of my alt coins (in fact I am negative return in every alt coin I own) but a lot of that came with my buy in time to the market at/near the top. Anyways, welcome to the party

Sent from my SM-G935V using Tapatalk

 

[Anon48331]

bitcoin cash is really pumping hard... anyone know why?

 

[HackVenture]

Absolutely...there are lots of players in every space in crypto these days...

I have no idea if TenX will win this space or not, but I do believe they have the best leadership team, the strongest engineering team and the only company (currently) with an actual product...

Yea for sure. OP was considering the potential of TenX based on the revenues of MC, Visa, Paypal, and I just wanted to point out that the pie could potentially be split across multiple other cryptos as well.

 

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[Vigilante]

Is the crypto Market open 24/7?

 

[HackVenture]

Is the crypto Market open 24/7?

Yes.

2 important times of the day:
1. When Asians "wake up"
2. When Americans "wake up" lol

 

[mike24601]

BTC down $1200 in 6 days, someone hold me!

 

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[mike24601]

They're serving some tasty dip at the BTC party, plenty for everyone

 

[maverick]

bitcoin cash is really pumping hard... anyone know why?

Money is flowing from BTC => BCH (and ETH)

 

[maverick]

I have a sneaky feeling a lot of whales are dumping BTC to manipulate the price. By moving their funds from BTC=>BCH(or ETH) they're effectively hedging their money whilst driving BTC price to the ground.

I've seen and heard a number of rumors that money will be poured into PR for bitcoin cash to further compound this manipulation. Examples such as this:
Bitcoin cash surges 30% as investors dump bitcoin

This will be used to get 'dumb' money into BCH.

Massive, massive disclaimer:
1- Don't quote me on this and don't use me to guide your crypto investments.
2- My portfolio is 50% ETH and 50% BCH.

 

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[maverick]

Another thing that points into this direction is the growing number of unconfirmed transactions:
125463 Unconfirmed Transactions

Somebody seems to want to fill up memory by creating a massive number of trx. So either a lot of dumping is going on or somebody is maliciously filling up the memory capacity of the chain. Either way, it won't be good for the BTC price.

 

[nitrousflame]

bitcoin cash is really pumping hard... anyone know why?

I think there was a significant portion of the market that wanted a blocksize increase in Bitcoin, but up until recently that market had a choice between upcoming Bitcoin segwit2x and Bitcoin cash. Now that segwit2x has been cancelled, the "big block" market is moving into Bitcoin cash.

 

[HackVenture]

Interesting activity with BCH.

Unfortunate that 2 days ago that damn wick just LICKED my trailing stop loss levels resulting in my sell order kicking in.. Then the damn thing just kept on shooting up else I would have got >2x.

Oh well, win some lose some.

For the record, I still think this is just interesting; IMO BTC is still going to be king. The fact that there's so much FUD surrounding it right now just shows how young the crypto market still is and how easy it is for whales to manipulate the markets.

P.S wow @Bearcorp thanks for the rep transfer, it's my first!

 

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[Tom.V]

Wowza, what an exciting past 48 hours. Long story short, I got in and out of BCH a few times to make some serious profit riding the wave.

The first trade I made of the day I took a 5% loss (my stop). My head wasn't in the right place, so I took a drive, walked around a local high end shopping center chatting up some salesmen and ran a few errands. Came home, head clear, and patiently waited for a good buy in. Got in, held it for most of the day, then things started erupting around 9pm EST. Got out for a roughly $3,000 profit selling at .31 BTC.

Again took a mental reset, and came back a few hours later only to find things had become even more chaotic. The value of BCH was over .4 BTC at this point, so I just jumped in at .41 BTC as it was super bullish with a strong buy wall preventing a backslide. Within 60 seconds it jumped immediately to .5 BTC and I noticed a buy wall of >2700 BTC directly on .5 BTC. This was >$15M value at that point in time. So I just sat and watched. It was slowly but surely pecked away at over the course of 15 minutes or so, with the price not budging whatsoever to the topside. With roughly 200 BTC left to the buywall I took my money and ran as I knew what was coming next, a free fall. There was nothing there to support that price. And it surely did. Poloniex has been buggy every since, but the price very abruptly dropped to levels I saw as low as .25 BTC. You can see the buy wall preventing the freefall highlighted below. I really wish I would have gotten it on video, it was really amazing watching it all roll out in real time.



At the same time, a BTC pump occurred, which worked out perfectly as I purchased some at the $5,600 price point, just before BCH went crashing down.

All in all, I finally got to put some of the knowledge I've gained over the past 6 months to use and came out on top. The key to all of this, is keep your cool and keep an eye on the masses. Don't become blind with greed and ALWAYS keep an eye on support and resistance levels when doing active trading.

Now I'm I'll probably just go back to holding and stockpiling. But this BCH nonsense was just insanity today. I have never seen anything like it and was happy to have stumbled upon the opportunity it presented.

 

[maverick]

Anyone read this?
Traders, certain information has come to my attention that is causing me grave c - Pastebin.com

Was posted last summer. Seems to be unfolding now.

 

[maverick]

Anyone holding on to bitcoin cash?

I sold early morning (europe time) in the 1800 range but not looking to get back. Not sure what games are currently being played with the upcoming change.

 

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[MarekvBeek]

Wowza, what an exciting past 48 hours. Long story short, I got in and out of BCH a few times to make some serious profit riding the wave.

Haha! I love what you're doing.

All in all, I finally got to put some of the knowledge I've gained over the past 6 months to use and came out on top. The key to all of this, is keep your cool and keep an eye on the masses. Don't become blind with greed and ALWAYS keep an eye on support and resistance levels when doing active trading.

Seems like you've figured a way out to deal with your emotions! I know I've been there, and I know you've been there too.

To be led by your emotions is a scary thing in trading. Now you're having a nice pay off for staying cool and keeping an eye on the masses. I do the same thing, and it feels phenomenal!

Anyone read this?
Traders, certain information has come to my attention that is causing me grave c - Pastebin.com

Was posted last summer. Seems to be unfolding now.

Nice! Haven't read it until now.

People that are HODL'ers will always sell at the bottem (because they believe it will be going to zero and never go up again), it leaves opportunity for traders like them and us.

I know I've said at november the 5th that the top seemed to be in place, because of the familliar pattern I saw back in 2013 and 2014. We might be in the bull trap now, before going down again. People are still optimistic and some of them even in denial. A sign that we're not at the bottom yet.

​

I always like to use this image above as my main frame in trading.

This guy has a nice view on trading patterns as well:

Good luck and happy trading!

 

[maverick]

Looks like something is about to happen on the Quoine exchange..

Cryptowatch - live Bitcoin price charts

 

[ddzc]

This topic is super interesting to me, I'm going to start really digging deep in to it while I learn the ropes. Created a coinbase account but they only limit 250 cdn/week which sucks. Great thread, watching!

 

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[mike24601]

I continue to be impressed with how stable LTC is holding amidst everything going on. On the way up now, perhaps a rise to 70+ by EOY. I'm hodling for 12 months at least.

 

[James Fake]

Dropping this link in here if you haven't already read..

The Bitfinex Dilemma: Blow up now, or try a Hail-Mary to retain in business.

 

[MarekvBeek]

Whoops BTC went up much faster than I thought (and much higher), shows that even I am not correct all the time.

I have seen a simillar explaination in a youtube video @James Fend . It was also about how they created USDT to back their debts, and that somehow that's got to be paid back.

Interesting stuff to think about.

 

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[JasonR]

Watching closely, but aiming for a $6000-$6200 entry.

What reasoning makes you pick $6000-6200?

 

[nitroheadz28]

Would anyone be interested in an FLF INSIDERS Slack or Telegram chat to discuss things more in depth? The 2 main crypto threads on here have been gold, but we all know how fast things move in this space. Not only that but the various forums/ slack and telegram groups tend to be filled with a lot of nonsense.

Thank you to everyone who has contributed so far!! Really a lot of gold here.

As far as newcomers to the space, I see Coinbase being recommended a lot. They are absolute rape when it comes to fees compared to pretty much every other exchange out there, their support is non existent, take forever to get up and running, and in my experience have issues when it comes to with deposits and withdrawals. As previously mentioned, GDAX is separate and completely fine to use. I'd also advise that support on most exchanges is pretty terrible, so tread wisely and take care not to make dumb mistakes with your accounts. I personally recommend Gemini for a newbie friendly exchange, however not all exchanges service all states and countries. It can be a huge pain to find out which ones do allow trading in your state or country because many don't bother listing their coverage areas and you essentially have to sign up for each one to find out if you're good to go.

Only keep coins you trade with on your exchanges, and even then its highly recommended you keep it in a wallet. USD is FDIC insured to 250k on the legit exchanges so keeping fiat on there is fine. Use an app like Blockfolio to track your portfolio, and try to keep things organized for when the tax man comes knocking (If you're into paying that stuff , I think most major US exchanges are required to report earnings to the IRS). It goes without saying, but do your due diligence. Day trading in cryptoland can be rough, I wish everyone luck!

 

[Tom.V]

I continue to be impressed with how stable LTC is holding amidst everything going on. On the way up now, perhaps a rise to 70+ by EOY. I'm hodling for 12 months at least.

Same boat. LTC has been super steady. In times of crisis it's a good hedge against losses.

What reasoning makes you pick $6000-6200?

At the time, it was >10% less the going rate of BTC which is what I had anticipated it would drop to before rebounding to the upside. It actually went well below that just below $5,500 if memory serves before rebounding, and it has continued to since the high all time high of just below $8,000.

Needless to say, this entire week has just been stellar. $11,000 profit just this week, which pushes me over 100% gains on my initial risk capital of $14,000. The goal at this point is just to keep an eye on where the money is flowing. If it's going out of BTC to another vehicle, I will ideally want to know what that vehicle is to continue to hedge my risk as much as possible and to continue to increase my war chest size.

 

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[James Fake]

Would anyone be interested in an FLF INSIDERS Slack or Telegram chat to discuss things more in depth?

Sounds like a good idea.. somewhere where I can leave my profanity when I buy in at the very tail end of a run!

Done! Fastlane Crypto on Slack.. Anybody interested - the Invite link: Create Account | Slack

 

[James Fake]

Was browsing around my Stripe, and saw this... Stripe testing out Bitcoin payments as well (in addition to Square who announced earlier). I googled; and Stripe announced this back in 2014?

Anywho... interesting & another notch towards mainstream use